Stock COV COVIVIO
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Financials Covivio

Equities

COV

FR0000064578

Commercial REITs

Market Closed - Euronext Paris
Other stock markets
 11:35:26 2024-05-21 am EDT 		5-day change 1st Jan Change
49.8 EUR +0.08% Intraday chart for Covivio +2.98% +2.30%
May. 17 Covivio Hotels: successful placement of green bonds CF
May. 17 Covivio: green bonds placed by Covivio Hotels CF

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,809 7,103 6,813 5,199 4,872 5,178 - -
Enterprise Value (EV) 1 19,029 18,153 17,785 5,199 11,797 11,622 11,494 11,552
P/E ratio 11.5 x 19.1 x 7.37 x 8.39 x -3.34 x 50.3 x 8.29 x 13.6 x
Yield 4.74% 4.78% 5.19% 6.76% 6.78% 6.86% 6.95% 7.03%
Capitalization / Revenue 9.16 x 8.19 x 11.5 x 8.57 x 7.91 x 4.85 x 4.74 x 4.62 x
EV / Revenue 19.8 x 20.9 x 29.9 x 8.57 x 19.2 x 10.9 x 10.5 x 10.3 x
EV / EBITDA 21.6 x 25.9 x 32.6 x 9.73 x 21.4 x 20.4 x 19.6 x 18.4 x
EV / FCF 192 x -139 x 24.8 x - - 9.4 x 15 x 27.9 x
FCF Yield 0.52% -0.72% 4.03% - - 10.6% 6.66% 3.58%
Price to Book 1.06 x 0.83 x 0.79 x 0.55 x - 0.68 x 0.69 x 0.7 x
Nbr of stocks (in thousands) 87,041 94,261 94,369 93,764 100,084 103,980 - -
Reference price 2 101.2 75.35 72.20 55.45 48.68 49.80 49.80 49.80
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 961.3 866.8 594.6 606.8 615.6 1,067 1,092 1,120
EBITDA 1 881.7 701.8 545.6 534.3 551 570.6 586.8 626.2
EBIT 1 816.7 636.7 498 517.5 530 658.5 665.5 765.2
Operating Margin 84.96% 73.45% 83.75% 85.28% 86.09% 61.72% 60.94% 68.32%
Earnings before Tax (EBT) 1 838.8 413.9 1,014 711.8 -1,554 -497.9 150.1 -
Net income 1 747 359.8 923.6 620.7 -1,419 118 556.9 368.3
Net margin 77.71% 41.51% 155.33% 102.29% -230.47% 11.06% 51% 32.89%
EPS 2 8.770 3.937 9.791 6.606 -14.55 0.9905 6.005 3.659
Free Cash Flow 1 99.19 -130.6 716.3 - - 1,236 766 414
FCF margin 10.32% -15.07% 120.47% - - 115.84% 70.15% 36.96%
FCF Conversion (EBITDA) 11.25% - 131.29% - - 216.62% 130.53% 66.11%
FCF Conversion (Net income) 13.28% - 77.56% - - 1,047.32% 137.55% 112.4%
Dividend per Share 2 4.800 3.600 3.750 3.750 3.300 3.414 3.462 3.503
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 479.2 268 431.6 292.8 301.8 270.1 336.7 307.7 307.9 541.2 589.2 577.6 610
EBITDA - - - - - - - - - - - - -
EBIT 1 - - - 248.9 249.1 261.1 - 269.6 260.4 425.9 455.7 461.2 475.2
Operating Margin - - - 85.01% 82.54% 96.67% - 87.62% 84.57% 78.69% 77.33% 79.84% 77.9%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/13/20 7/21/20 2/17/21 7/21/21 2/22/22 7/21/22 2/21/23 7/20/23 2/15/24 - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,220 11,050 10,972 - 6,925 6,444 6,316 6,374
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 11.59 x 15.74 x 20.11 x - 12.57 x 11.29 x 10.76 x 10.18 x
Free Cash Flow 1 99.2 -131 716 - - 1,236 766 414
ROE (net income / shareholders' equity) 9.42% 4.26% 4.62% - - 5.69% 5.81% 5.94%
ROA (Net income/ Total Assets) 2.98% 1.36% 1.48% - - 2.67% 2.74% 2.73%
Assets 1 25,053 26,552 62,566 - - 4,413 20,317 13,502
Book Value Per Share 2 95.30 91.00 91.00 101.0 - 73.30 72.50 71.30
Cash Flow per Share 2 9.710 6.760 6.900 - - 6.100 5.900 5.860
Capex 1 674 631 698 - - 843 592 157
Capex / Sales 70.14% 72.83% 117.31% - - 78.97% 54.23% 14%
Announcement Date 2/13/20 2/17/21 2/22/22 2/21/23 2/15/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Covivio

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
49.8 EUR
Average target price
53.49 EUR
Spread / Average Target
+7.41%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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